Stock Market Today: Premarket Movers Signal Caution Amid Trade Tensions and Key Earnings

Futures Edge Lower Following Monday’s Modest Gains

U.S. stock futures are pointing slightly lower in premarket trading on Tuesday, June 3, 2025, as investors digest ongoing U.S.-China trade tensions and prepare for a slate of important earnings reports. As of 7:30 AM Eastern Time, S&P 500 futures are down 0.3%, Nasdaq futures have dipped 0.5%, and Dow Jones Industrial Average futures are trading 0.2% lower.

This cautious start follows Monday’s positive performance, where the S&P 500 gained 0.41%, the Nasdaq Composite rose 0.67%, and the Dow Jones added a modest 0.1%. The major indexes are coming off an impressive May, with the S&P 500 climbing 6.15% last month—its best monthly performance since November 2023—while the Nasdaq Composite surged 9.56% during the same period.

Trade Tensions Weigh on Market Sentiment

Market sentiment remains cautious as U.S.-China trade relations deteriorate. Beijing has pushed back against U.S. accusations of violating a temporary trade agreement, instead blaming Washington for failing to uphold the deal. This development has dampened hopes for a quick resolution to trade disputes between the world’s two largest economies.

Adding to global trade concerns, the European Union has criticized President Trump’s recent announcement to double steel tariffs to 50%, warning that such a move could harm ongoing trade negotiations with the United States. The uncertainty surrounding trade policy continues to create volatility in markets.

Key Earnings Reports in Focus

Several notable companies are scheduled to report earnings before the market opens today, drawing significant investor attention. Dollar General (DG) is expected to report earnings per share of $1.47 for the quarter ending April 30, representing a 10.91% decrease compared to the same period last year.

Other companies reporting today include Ferguson Enterprises (FERG), with analysts forecasting EPS of $2.01, Donaldson Company (DCI) with expected EPS of $0.95, Ollie’s Bargain Outlet (OLLI) with projected EPS of $0.70, NIO (NIO) with an anticipated loss of $0.22 per share, and Signet Jewelers (SIG) with an expected EPS of $1.02.

Sector and Stock Movements

In Monday’s trading session, steel stocks surged after President Trump announced plans to increase steel tariffs. Cleveland-Cliffs (CLF) soared 21%, while Steel Dynamics (STLD) and Nucor (NUE) each gained approximately 10%. This sector could continue to see volatility as trade policy developments unfold.

The technology sector also showed strength on Monday, with Meta Platforms (META) rising 3.6% following reports that the company plans to launch a new advertising service allowing marketers to create and target campaigns using artificial intelligence.

Economic Data and Federal Reserve Watch

Investors are awaiting key economic data releases today, including April’s Job Openings and Factory Orders reports, which could provide insights into the health of the U.S. economy. These reports come after Monday’s disappointing manufacturing data, which showed U.S. factory activity contracted in May for the fourth consecutive month, with the Institute for Supply Management’s manufacturing index edging down to 48.5.

Federal Reserve Chair Jerome Powell is also scheduled to deliver remarks today, which markets will closely monitor for any signals about future monetary policy direction.

Commodities and Global Markets

In the commodities market, WTI crude oil futures are trending higher, hovering near $62.95 per barrel, while gold has retreated from a four-week high to trade around $3,350 per ounce.

Asian markets traded mixed on Tuesday, with Hong Kong’s index rising 1.49% and China’s Shanghai Composite gaining 0.43%, while Japan’s Nikkei and Topix indices declined slightly. European indices are trading in positive territory as investors monitor developments in U.S. trade policy and Euro Zone inflation data.

As trading begins on this Tuesday, market participants will be watching closely for further developments in trade negotiations, corporate earnings results, and economic data releases that could set the tone for market direction in the days ahead.